Receiving a free deeded week, need pointers

[cindyc]

I already own 2 deeded weeks at Sedona Summit both resale. One was through eBay auction. The other through Redweek. Both went through brokers and timeshare transfer companies.

I am in conversation with a deeded owner who wants to gift me deed me her week. Do folks recommend going through a transfer/title company for security and peace of mind? Or, if I get an estoppel to confirm unit details can I conduct the transfer myself? If so, what is the process?

Related question: owner has deposited 2020 usage into The Club. What is the best way to transfer that usage given I am not and don't plan to be in The Club? Have her book a week for me? Can the 2020 usage be recalled from the Club?

Any pointers would be appreciated.

Thank you.

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[NiteMaire]

I am in conversation with a deeded owner who wants to gift me deed me her week. Do folks recommend going through a transfer/title company for security and peace of mind? Or, if I get an estoppel to confirm unit details can I conduct the transfer myself? If so, what is the process?

I presume the vast majority of tuggers will tell you to use a company. I generally recommend the same, but there may be situations where you can do it. I've purchased 2 timeshares without using a transfer/title company. Both went without a hitch. You can definitely do the transfer yourself. In my case the seller (same seller for both transactions) worked for the resort and had a contact with the county. The seller was willing to use a closing company (at my expense), but somehow I agreed to let the seller handle most of the deal.

If you decide to use a closing company, LT Transfers does a great job at a great price; it's worth it for the peace of mind.

In general, here's what you need to do: Request estoppel (owner); sign a contract, transfer the deed, send the contract and deed to DRI and request transfer. DRI will then respond with a list of additional things they need from you. I'm in the process of closing on Sedona Summit and here's a list of required documents they need:

o Copy of executed Purchase & Sale Agreement between you and the seller of your VOI;

o Copies of a valid and current Driver’s License, Passport, or governmental identification for all parties to the transaction (if natural person);

o Certified Copies of all Articles of Incorporation (or applicable governing documents), Certificates of Good Standing (from State of formation) as well as any and all authorizing resolutions, approvals etc. pertaining to the transaction proposed in the Transfer of Membership (if corporate transferor or transferee);

o Executed Buyer’s Affidavit (if Buyer)

o Executed Transfer Affidavit (if Owner)

o Copies of any agreements with timeshare exit, transfer, resale or related title companies

o Copies of any and documents or agreements evidencing the exchange or payment of any monies with third parties, including any timeshare exit, transfer, or title companies

Good luck!